LimeLight Surges 18%: Q4 Loss Better Than Feared, Sets $15M Buyback

By Tiernan Ray

Shares of Internet bandwidth provider Limelight Networks (LLNW) are up 39 cents, or almost 19%, at 2.50, in late trading, after the company this afternoon reported Q4 revenue that missed analysts’ expectations slightly, but delivered a smaller-than-expected net loss per share, and said it may buy back up to 8% of its stock.

Revenue in the three months ended in December fell 9%, year over year, to $42.2 million, yielding a net loss of 5 cents per share.

Analysts had been modeling $42.9 milion and a 6-cent loss per share.

In a separate announcement, the company said its board of directors authorized a share repurchase of $15 million, which would amount to just about 8% of the company’s $200 million market cap, which it said demonstrated the board’s confidence in the company’s future prospects.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.